Data-Driven Innovation

Big Data for Growth and Well-Being

image of Data-Driven Innovation

Today, the generation and use of huge volumes of data are redefining our “intelligence” capacity and our social and economic landscapes, spurring new industries, processes and products, and creating significant competitive advantages. In this sense, data-driven innovation (DDI) has become a key pillar of 21st-century growth, with the potential to significantly enhance productivity, resource efficiency, economic competitiveness, and social well-being.

Greater access to and use of data create a wide array of impacts and policy challenges, ranging from privacy and consumer protection to open access issues and measurement concerns, across public and private health, legal and science domains. This report aims to improve the evidence base on the role of DDI for promoting growth and well-being, and provide policy guidance on how to maximise the benefits of DDI and mitigate the associated economic and societal risks.



Skills and employment in a data-driven economy

This chapter discusses the implications of data-driven innovation (DDI) on skills and employment, focusing on two challenges in particular: one, DDI may further increase pressure on the labour market, and especially on middle income jobs, as it enables an increasing number of cognitive and manual tasks to be performed by data- and analyticsempowered applications; and two, the demand for data specialist skills may exceed supply on the labour market. The chapter first shows that DDI could lead to structural change in labour markets, and discusses the implications with regard to skills. It then focuses on data specialist skills and competence, the lack of which could prevent economy-wide adoption of DDI and the (re-)creation of jobs. Finally, the chapter discusses the policy challenges for promoting DDI while smoothing structural adjustments, focusing on challenges in i) addressing wage and income inequalities, and ii) satisfying skills and competence needs.


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